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Do These 401(K) Choices Seem Expensive To You?

Tuesday, January 15th, 2013

A friend of mine asked me to help her allocate her 401(k) contributions. Here are her choices (click on the graphic to see a PDF version): As you can see, they’re all expensive choices. I’m sure this is because it’s a small company and one of the ways providers make the plan “cheaper” for employers […]

401(K) Dollar Limit Raised to $17,500 in 2013

Friday, November 2nd, 2012

The maximum dollar amount an employee can contribute to their 401(K) is increasing $500 to $17,500 for 2013. Those who are 50 and older can contribute as much as $23,000. Let’s break down $17,500. That’s… $1,453.33 per month. $47.95 per day. $1.9977 per hour (based on 8,760 hours per year). $.0333 per minute. Better get […]

Question of the Day – 401(k) Loans

Monday, July 21st, 2008

Here’s today’s question(s) of the day: Do you think it is too easy for people to borrow from their 401(k) plans? Have you ever borrowed from your 401(k)? My wife and I have borrowed against her 401(k) when we bought our house in 1999. This was back in the day when her 401(k) was our […]

Avoid Cashing Out Your 401(k)

Sunday, July 13th, 2008

Check out this quote from a recent Wall Street Journal article by Andrea Coombes: …about 40% of workers in their 20s and 30s said they had cashed out their 401(k)s or 403(b)s when they switched jobs, according to an online survey of about 1,200 people conducted in January for Fidelity Investments by CMI, a research […]